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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: jack bittner who wrote (22724)	4/10/2000 10:53:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 42787

jack, weekly or daily, gaps are gaps, but sometimes on weekly charts they have more importance because they are in a larger time frame. Nothing is set in stone but you can see time and again stocks or indexes break to new highs and then come back to the breakout point and find support and then continue the mark-up phase. I consider the nasdaq a bubble situation, when the blue chip nyse stocks stopped going up in 1998, all the money poured into tech stocks and pushed (blew - as in blow-off) the nasdaq way out of it's bull market channel and rationalized it on unrealistic expectation of tech stock returns. It's not unrealistic for the nasdaq to come back into that long term bull market channel and retest an area of it. We all know that yhoo, ebay, aol, jdsu and many other high flyers are still years away from being able to provide shareholder returns that most blue chips are expected too. Momentum works both ways, be careful out there. b